Daily News: July 12, 2018

JPMorgan, Others Support 21st Fox in Bidding War for Sky


Goldman Sachs Bank USA, Goldman Sachs Lending Partners, Deutsche Bank, Cayman Islands Branch and JPMorgan Chase Bank, London Branch committed to providing bridge financing to support 21st Century Fox’s £15.325 billion ($20.18 billion) bid to purchase UK-based media company, Sky. Law firm Simpson Thacher is representing 21st Century in its bidding war with Comcast.

According to the Wall Street Journal, Comcast raised its offer for Sky to £14.75 per share, valuing the company at $34 billion, a 5% premium to an Fox’s offer and 18% above Comcast’s earlier bid.

The Journal reported Fox already owns 39% of Sky and is looking to consolidate ownership. The battle over Sky is linked to another bidding war – Comcast and Disney vying to purchase 21st Century from Fox.